TMC NEWS

TMCNET eNEWSLETTER SIGNUP

iQIYI LOSS ALERT: ROSEN, A TOP RANKED INVESTOR FIRM, Reminds iQIYI, Inc. Investors of Important June 15 Deadline in First Filed Securities Class Action Commenced by the Firm - IQ

[May 23, 2020]

iQIYI LOSS ALERT: ROSEN, A TOP RANKED INVESTOR FIRM, Reminds iQIYI, Inc. Investors of Important June 15 Deadline in First Filed Securities Class Action Commenced by the Firm - IQ

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of iQIYI, Inc. (NASDAQ: IQ) between March 29, 2018 and April 7, 2020, inclusive, (the "Class Period") of the important June 15, 2020 lead plaintiff deadline in the securities class action commenced by the firm. The lawsuit seeks to recover damages for iQIYI investors under the federal securities laws.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) iQIYI inflated its revenue figures; (2) iQIYI inflated its user nubers; (3) iQIYI inflated its expenses to cover up other fraud; and (4) as a result, defendants' statements about iQIYI's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 15, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1834.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.